SPO Networks, Inc. (SPOI) Timely Files Quarterly Report On OTCMarkets; Shows Pretax Income From Operations Of $2.2 Million+ During Third Quarter 2021
SPO Networks, Inc. (SPOI) has reported a pretax income of $2.23 million for Q3 2021, with a cumulative pretax income of $4.93 million for the seven months ending September 30, 2021. The company also reported a net income of $536,586 for Q3 and $1.38 million year-to-date. SPOI is actively expanding in the cannabis industry and expects to recognize revenues of $186,000 from cannabis acquisitions once licenses are transferred in Q1 2022. The firm aims to enhance its operational capacity through acquisitions in diversified sectors including waste management.
- Q3 2021 pretax income of $2.23 million.
- Seven months pretax income reached $4.93 million.
- Net income for Q3 2021 was $536,586.
- Year-to-date net income of $1.38 million.
- Anticipated revenue of $186,000 from cannabis acquisitions expected in Q1 2022.
- None.
The Pretax Income Through Seven Months Ended September 30, 2021, Was
FARMINGTON, AR / ACCESSWIRE / November 16, 2021 / SPO Networks, Inc. (OTC:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, today announced that it has timely filed its Quarterly Report for the Third Quarter of 2021[1].
Tom Smith Founder of Red Line and CEO of SPO Networks Inc. said: "Our filing shows that we are growing at increased pace, adding assets we and hope to continue substantial growth through next quarter and beyond. The Company is coming off a blockbuster Q3, where we showed a:
- Pretax income of
$2,230,621 million , and Seven Months Ended September 30, 2021 of$4,930,290 million ; - Net income of
$536,586 million , and Seven Months Ended September 30, 2021 of$1,376,445 million ; and - The cannabis acquisitions that we have under contract, had revenues of
$186,000 b ut cannot be recognized until licenses are transferred, which should occur in Q1-2022.
We have been adding assets and increasing revenues and we and hope to continue substantial growth through next quarter and beyond."
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual
results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure
Contact:
www.spoinow.com
479-443-6000
info@spoinow.com
[1] https://www.otcmarkets.com/otcapi/company/financial-report/311134/content
SOURCE: SPO Networks, Inc
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FAQ
What are the financial results for SPO Networks in Q3 2021?
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